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‘Not your parents’ retirement:’ Boomers and Gen X redefine their golden years | Yahoo! Money

By Kerry Hannon, Senior Columnist, Fri, May 13, 2022, 11:08 AM
7 min read

Nearly three-quarters of those surveyed said they are able to realize their hopes and dreams in retirement, according to one survey of adults 45 and older. (Photo: Getty Creative)

Baby boomers and Gen X are reimagining retirement, according to a new study.

Pre-retirees and retirees view their parents’ version of retirement as having been a time for “rest and relaxation,” according to a new study “Longevity and the New Journey of Retirement” conducted by Edward Jones in partnership with Age Wave.

However, when asked about their own retirement today and in the years ahead, only 27% see today’s retirement in the same light, while 55% define it as “a new chapter in life.”

“This is definitely not their parents’ or grandparents’ retirement,” according to Ken Cella, principal, branch development at Edward Jones. “At the same time, they face new challenges, especially around their health, their finances and finding a new definition of purpose.”

The survey of more than 11,000 people was conducted online by Harris Poll in January and February 2022 and consisted of adults aged 45+ who are retired or within 10 years of retirement.

Source: ‘Not your parents’ retirement:’ Boomers and Gen X redefine their golden years